MGM MIRAGE Among Black Enterprise 30 Best Companies for Diversity

June 17, 2005
PRNewswire-FirstCall
LAS VEGAS

MGM MIRAGE has been named to Black Enterprise (BE) magazine's inaugural list of the "30 Best Companies for Diversity." The magazine recognized MGM MIRAGE for its "commitment to making diversity a business imperative" in its operations.

MGM MIRAGE's selection follows an extensive survey conducted by BE editors of 1,000 of America's largest publicly traded companies and 50 leading global companies with significant U.S. operations. Companies were evaluated in four key areas: corporate procurement, corporate governance, total workforce diversity and minority representation in senior management. The editors also reviewed diversity programs and consulted with diversity experts and corporate diversity officers to determine the list of best companies for diversity.

"The companies that appear on our diversity list have made significant progress toward inclusion at all levels, from the mailroom to the boardroom," said Black Enterprise Founder & Publisher Earl G. Graves Sr. "The Black Enterprise 30 Best Companies for Diversity sets the standard for the rest of corporate America. Their commitment to diversity and inclusion are essential to maintaining African Americans' gains in employment, corporate leadership, earning power and business ownership."

According to MGM MIRAGE Chairman and CEO Terry Lanni, recognition by Black Enterprise is a significant accomplishment for the company and its 70,000 employees. "We are proud that our diversity initiative is being recognized by such a prominent publication," he said.

"We realize that we have only just begun this endeavor, and that our commitment to diversity will require perseverance. We will continue to reevaluate our systems and methods in our assimilation of the best diversity practices and our quest for excellence in diversity as in all other aspects of our business," said Lanni.

In 2000, MGM MIRAGE became the first company in the gaming industry to launch a voluntary diversity initiative. To provide recommendations regarding the company's diversity policy and to monitor implementation of the Diversity Initiative, a board level Diversity Committee was established. This committee is chaired by Alexis Herman, former U.S. Secretary of Labor. Including Herman, three African Americans and one Hispanic serve currently on the company's board of directors.

In 2004, almost 55 percent of the company's workforce was comprised of ethnic minorities, with 31 percent in management positions. Senior management executives include Lorenzo Creighton, President of New York-New York, the only African American to oversee a hotel/casino property on the Las Vegas Strip.

The company's policies require minority participation in all bids for construction and supplier contracts. Between 2001 and 2004, the amount of money that MGM MIRAGE spent with minority-, women- and disadvantaged-business enterprises increased 218 percent.

The full list of the BE 30 Best Companies for Diversity will be released on June 28, 2005 in the July issue of the magazine.

About MGM MIRAGE:

MGM MIRAGE (NYSE: MGM), the world's leading and most respected hotel and gaming company, owns and operates 24 properties located in Nevada, Mississippi and Michigan, and has investments in three other properties in Nevada, New Jersey, and the United Kingdom. MGM MIRAGE has also announced plans to develop Project CityCenter, a multibillion dollar mixed-use urban development project in the heart of Las Vegas, and has a 50 percent interest in the MGM Grand Macau hotel/casino under construction in Macau S.A.R. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE also has been the recipient of numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at www.mgmmirage.com.

About Black Enterprise:

BLACK ENTERPRISE is the premier business and investment resource for African Americans. Since 1970, BE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. The publication provides 3.8 million readers with monthly information on entrepreneurship, careers, and financial management. As the definitive source of information for and about African American business markets and leaders, BE is the authority for business news and trends. The magazine is published by Earl G. Graves Publishing Co., New York.

SOURCE: MGM MIRAGE

CONTACT: Debra Nelson, Vice President Corporate Diversity and Community
Affairs of MGM MIRAGE, +1-702-650-7421, denelson@mgmmirage.com; or Flo McAfee
of The Caraway Group, +1-202-965-2810, flo@thecarawaygroup.com

Web site: http://www.mgmmirage.com/